Describe a Time When You Helped to Reduce Costs at a Previous Accountant Job

 

Accountant reducing costs

The real goal of an accountant is to help the employer to reduce costs, in a legal way.

In some countries they call it “Cost Accounting” and companies employ special accountants to take care of this “task”. These people collect, analyze, summarize and evaluate various alternative courses of action the managers can take, in order to minimize the expenses and maximize the savings. However, each good accountant should be able to give some advice regarding cost reduction, while keeping the same operations of the company.

This behavioral question appears mostly in interviews for intermediate accounting roles, or for any roles in smaller companies.

First job application?

Man working of some cost effective accounting at the computerIf you apply for your very first job, it will be difficult to speak about a situation from the past. But you should still say something, showing them that you have at least a basic idea on how to minimize the expenses, and that you care about doing that. The most simple way lies in managing the purchases in time, order to benefit from various methods of depreciation in relation to the profit or loss of the current and past fiscal years. Obviously there are more advance methods, and we elaborate on them in our interview guide.

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